If you don’t know Jana Matthews (I didn’t until last week!) she is one of the world’s leading experts on business growth. Her presentation was all about how to ensure your business is going to grow.
Journeys, inspiration, insights:
Jana Matthews, Managing Director at ANZ Innovyz Start
- Every company starts small
- Small business thinks and stays small
- Growth businesses think big
- Having a team focus — as opposed to an individual focus — drives growth
- You need goals, and you need to measure them weekly
- If you didn’t achieve a goal, reflect on it and work out why, and then add it to the following week’s goals
- Customers are not users: the two are different
- Validate your business idea, and validate early
- Try and solve a problem that a lot of people care about; preferably people worldwide
- You need to know who will pay — and when
- You need efficiencies in customer acquisition
- There are five key elements, that move through five stages. These are: [elements] Customer, Product, Team, Financials, Business Model; [stages] Discovery, Validation, Efficiency, Scale, Continuous Growth
- The five elements need to be kept in sync, all the time; e.g. Customer & Product in Discovery phase, then through to Validation with Financials thrown in, and then adding through to Continuous Growth
- If your five elements are not kept in sync, your business will fail.
Did you get something different? Leave your notes in a comment.